RISK & FRAUD SOLUTIONS
Economic and Workforce Development
Ensuring compliance and risk mitigation in economic and workforce development programs requires actionable data and insights.
Economic and workforce development professionals are tasked with protecting government funds and ensuring compliance across programs.
Government agencies have a duty to protect and enforce the integrity of unemployment benefits, labor laws, and government-funded programs. Agencies need a streamlined workflow to keep up with ever-changing regulations and inaccurate data to verify identities. Additionally, they are committed to enforcing business and industrial relations oversight, particularly around licensing.
Insights for economic and workforce development departments
Thomson Reuters Risk & Fraud Solutions helps you address your most complex risk mitigation needs to prevent fraud or waste at the forefront.
Increasing claims bring new challenges
The employment climate and the surge in unemployment insurance applications have both overwhelmed state employment departments, many of which have waived certification processes and work search requirements. And while program integrity departments continue to work to protect the fiduciary trust put into them by businesses and citizens, they face a monumental task of reducing improper payments while avoiding delayed applications and payment processing.
When regulating and reviewing licenses for companies that work in the United States, the U.S. government has a key responsibility to understand the full scope of risk they pose and confirm they are not connected to nefarious activity.
Customizable data-based risk profiles, adverse media review solutions, and comprehensive international company data and connections allow agencies to screen for potential fraud indicators, drastically reducing the likelihood of costly mistakes.
Sophisticated fraud schemes keep state unemployment agencies on alert
Instead of chasing fraudulent payments after they are detected, state unemployment agencies must continue to develop processes to prevent fraud on the front end. Agencies need to invest in solutions that can quickly pinpoint high-risk applicants for further verification of identity and legitimacy and perform deep-dive investigations on high-risk claims.
Every year thousands of dollars are at risk of not being collected from individuals who are hard to find or have relocated.
When agencies such as tolls or collections are tasked with repossessing assets or missed payments from individuals, it is key to find the correct data that can help track them down to collect on payments.
In order to successfully collect on missing dollars or assets, agencies need options that can run large-scale data verification and alerts, as well as the ability to quickly determine the best address and phone number associated with an individual in order to contact them.
Minimizing Risk, Maximizing Results
Economic and workforce development professionals use Thomson Reuters Risk & Fraud Solutions to help make critical decisions and uncover insights with confidence
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